Hydrogen Peroxide Market to exceed $6.3bn by 2024

Paper & pulp industry accounted for over 40% of the global hydrogen peroxide market in 2015 and is expected to grow at over 5% CAGR from 2016 to 2024 owing to growing demand for recycled paper in the packaging industry and the global stationery demand.

Global Market Insights, Inc.

Global Market Insights, Inc.

SELBYVILLE, Del., Feb. 28, 2018 /PRNewswire-iReach/ -- Hydrogen Peroxide Market is poised to be valued USD 6.39 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising paper & pulp industry is expected to be the major driver for hydrogen peroxide market share in the upcoming years.

Applications for brightening of deinked papers will favor industry demand, global paper & pulp industry was worth more than USD 550 billion in 2015 and will have a steady growth owing to the increasing flexible packaging material demand in the packaging industry. With growth of electronic commerce market and ease of home delivery system, the demand for flexible packaging will have a healthy growth. Also, growing awareness about usage of recycled papers will boost demand for de-inked recycled papers.

With the commercialization of hydrogen peroxide propylene oxide or HPPO process to produce propylene oxide using HP as raw material, the global hydrogen peroxide market share is forecast to witness a decent growth in the forecast period.

Electronic grade applications for etching of circuit boards that find application in manufacture of semiconductors, will create a decent window of opportunity for the hydrogen peroxide market. Companies such as Solvay and Evonik have commercialized the electronics grade variants with several other under R&D.

However, regulations imposed by OSHA regarding industrial exposure will act as a restraint to hydrogen peroxide market growth. Though they have medicinal uses in a minor concentration, multiple applications report in skin related issues. Stringent regulations by bodies including EPA, FDA and REACH will hinder the market growth in North America and Europe.

Paper & pulp industry accounted for around USD 1,550 million of hydrogen peroxide market share in 2015 and will continue to dominate the market throughout the forecast timeframe. This growth is on the account of rising demand of recycled papers and flexible packaging materials.

Chemical applications were worth more than USD 1,300 million in 2015 and will have a healthy growth at over 6% CAGR from 2016 to 2024. Asia Pacific registered more than USD 2 billion in 2015 and accounted for over 50% of the global hydrogen peroxide market share. Strict regulatory norms in North America and Europe will shift the global market towards APAC.

North America hydrogen peroxide market is anticipated to cross a total revenue of USD 1,000 million by 2024.Akzo Nobel, Evonik, Arkema, Solvay and Kemira account for significant industry share. Analysts expect the market to consolidate over the next decade.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.